Selbyville, Del., Dec. 18, 2024 (Globe Newswire) — The luxury packaging market was valued at $17.2 billion in 2023 and will grow to $25.8 billion by the end of 2032, according to a recent study from Global Market Insights. is predicted to reach. Co., Ltd.
Changing consumer preferences and technological advancements are providing significant growth opportunities for this sector. Brands are increasingly choosing personalized, high-quality packaging to increase the appeal and awareness of their products. The rise of e-commerce will further accelerate this trend, as packaging plays a key role in ensuring safe delivery of products. Additionally, by incorporating smart packaging technologies such as QR codes and NFC, brands can offer interactive experiences and provide real-time product information to meet consumer demand and differentiate themselves in a competitive market. It will look like this.
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The luxury packaging market is segmented by material into paperboard, plastic, glass, metal, and other options. The paperboard segment is expected to grow at a robust CAGR of over 5% and reach over USD 9 billion by 2032. This growth is driven by the material’s eco-friendly nature and premium appeal. The highly customizable nature of paperboard allows brands to create intricate and visually striking designs that enhance the consumer unboxing experience. Additionally, its recyclability and sustainable sourcing align well with the growing demand for environmentally friendly packaging solutions. As sustainability continues to be a key focus, the role of paperboard in luxury packaging will expand.
The luxury packaging market is also segmented by end-use industries such as consumer goods, food and beverages, and pharmaceuticals. The food and beverage segment is the fastest growing and is expected to grow at a CAGR of over 5% from 2024 to 2032. Growth in this segment is driven by growing consumer demand for luxury, artisanal and gourmet products, prompting brands to invest in luxury goods. Packaging that enhances product presentation and harmonizes with luxury brands. Additionally, increased awareness of sustainability is driving food and beverage companies to adopt eco-friendly packaging options that resonate with environmentally conscious consumers.
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North America accounts for more than 30% of the global luxury packaging market share. The US market is thriving due to increasing demand for premium products across sectors such as cosmetics, fragrances, and luxury goods. The region is focused on brand differentiation and sustainability, with leading companies adopting eco-friendly materials to drive innovation and address environmental issues.
Players in the luxury packaging market
Including Amcor, Cosfibel Group, Crown Holdings, Delta Global, DS Smith, GPA Global, HH Deluxe Packaging, Hunter Luxury, IPL Packaging, Keenpac, Lucas Luxury Packaging, McLaren Packaging, Packhelp, PackMojo, Premier Packaging, Stoelzle Glass Group, Tinshine The company Tin Box, WestRock is a company involved in the luxury packaging industry.
This Luxury Packaging Market research report includes detailed coverage of the industry with revenue (USD Million) estimation and forecast from 2021 to 2032 for the following segments:
By market and material
Paperboard Plastic Glass Metal Others
By market, product type
Bag Bottle Pouch Box Others
By market and application
Cosmetics and Personal Care Home Decor and Furniture Fashion Accessories and Apparel Luxury Alcohol Chocolate and Confectionery Dietary Supplements Others
Market, by end-use industry
Consumer goodsFood/drinksPharmaceuticalsOthers
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